Surely, you do know that we are already living in a day and time that is fast-paced and technologically advanced and with this, you can expect E-commerce to fast gain momentum. When we say E-commerce, we are actually referring to the act of conducting as well as accepting payments by means of an online transaction. Even if you do not have an online store, there is nothing for you to worry about since you can still increase the sale of your business means of accepting payments using credit cards. The reason for this is due to the fact that there are consumers who prefer to make use of their credit cards as their mode of payment. Since we already stated about e-commerce, we want you to know that one very good example of it is merchant services. In merchant services, for the purpose of accepting payments using credit cards, what consumers need to do is they have to have a merchant account in any financial institution and also, the services provided by an internet gateway provider organization. The reason behind the need for these individuals to have a merchant account is because the processed payment will be directed to your merchant account as well.
For your merchant services, it is very important for your gateway account to be connected to your merchant account and to do this, your company website should undergo some technical modifications in order for it to accept credit payments. The web developer will add an add to cart feature so that the customer will only have to place their credit card information together with their personal details.
As part of merchant services, the gateway organization will validate the credit card information given by the customer by means of sending them the details to the credit card company. Once the validation is done, what happens next is that the gateway organization will receive an acceptance message or a decline message depending on the authenticity and credibility of the information given. The acceptance or decline message will then be displayed on the screen. Once you receive the acceptance message, you can now proceed on transmitting the payment to your merchant account and the transaction is completed. In the event that the credit card information you have provided the credit card company resulted from a decline message, this means that you have to reach out to your customer to inform them about it and also, for you to ask them for another credit card that is legit and authentic.